SCOTUS Delivers Ruling on SEC’s Power To Claw Back Ill-Gotten Gains

case centered on Ongkaruck Sripetch, who participated in fraudulent “pump-and-dump” schemes involving at least 20 microcap penny-stock companies from 2013 to 2019.

Sripetch and associates would acquire shares, hype the stocks, then sell at inflated prices.

The SEC filed a civil enforcement action, and Sripetch consented to liability but challenged a continue reading …